HYPE has been added to the Bitwise 10 Crypto Index ETF, or BITW, one of the largest crypto index funds in the market. Bitwise said the token now accounts for roughly 0.93% to 0.95% of the fund’s holdings. BITW tracks the ten largest cryptocurrencies by market capitalization and rebalances monthly. Bitcoin remains the dominant position at about 77.5%, followed by Ethereum near 13%, XRP around 4.2%, and Solana close to 2.8%.
HYPE now ranks fifth inside the index
According to the source material, HYPE now sits in 5th place within the portfolio, ahead of smaller allocations such as Cardano, Stellar, and Chainlink. For a token that was not in the top tier a year ago, entry into a passive vehicle tied to the largest crypto assets changes its profile. It places Hyperliquid in a product used for standardized index exposure rather than only as a high-growth DeFi name.
Bitwise already had exposure to the asset through another product. The firm also runs the dedicated Bitwise HYPE ETF, ticker BHYP, which has attracted about $170 million in inflows through direct HYPE purchases, based on the source.
Three spot HYPE ETFs are already trading in the US
Beyond BHYP, the source mentions two other US-listed spot HYPE ETFs. One launched on May 12, 2026 on Nasdaq, tracks the FTSE HYPE Index, and charges a 0.30% expense ratio. About 65% of its holdings are staked through Anchorage Digital Bank and BitGo. A second fund launched on June 3, 2026 with a 0.29% expense ratio, the lowest among the three, and disclosed an annual staking yield of roughly 2.2%.
Operating data helps explain the index inclusion
Hyperliquid’s business metrics in the first half of 2026 provide the clearest context for the BITW decision. The platform recorded $1.34 trillion in trading volume in H1 2026 and generated $320 million in platform revenue. HYPE was up 165% year to date, while its market capitalization stood near $17 billion, putting it around 9th among crypto assets. Hyperliquid operates its own Layer-1 blockchain focused on perpetual futures and spot trading, and the source says it now captures more than 30% of decentralized exchange perpetuals volume.
On a cumulative basis, historical trading volume on the platform has exceeded $4 trillion, while lifetime revenue for the team behind it has topped $900 million. Those figures form the backdrop to HYPE becoming eligible for broader index-based exposure.
Token price remains below the June peak
HYPE was trading in the $68 to $69 range at the time cited in the source. The token was slightly lower over 24 hours, though still up about 7% on the week. Its all-time high came in mid-June 2026 at nearly $76.85, and 24-hour trading volume was close to $385 million. The source also notes that HYPE remains in CoinMarketCap’s top 10 by market value, at more than $17.2 billion.
Part of that support comes from token mechanics. Up to 97% of platform trading fees can be used to buy HYPE on the open market, directly linking platform activity to token demand.
Expansion now includes commodities, indices, and prediction markets
The source ties Hyperliquid’s recent momentum to product expansion as well. HIP-3 and HIP-4 now support permissionless perpetual markets across commodities, indices, and prediction contracts tied to events such as Federal Reserve decisions or CPI releases. The platform has also launched a new Android app and improved its portfolio margin tools.
With entry into the Bitwise 10, HYPE has moved from being described mainly as a fast-growing DeFi token to an asset now held in a major crypto index ETF. The source does not establish what comes next, but the current numbers show Hyperliquid gaining traction through on-chain trading activity, ETF demand, and wider institutional allocation channels.